Carlo Glanz

[The Kobeissi Letter @KobeissiLetter]

The REAL reason markets are crashing:

Over the last 2 months, the S&P 500 and crypto have erased a combined -$5.5 TRILLION of market cap.

We have just witnessed one of the most SUDDEN shifts in sentiment since 2020.

What's happening? Let us explain.

(a thread)

[Ki Young Ju @ki_young_ju]

The crypto market is increasingly becoming a weapon of the United States.

Since Trump’s election, universal moral standards have declined. Now, if something benefits Trump and serves U.S. national interests, it is no longer considered illegal.

Despite opening the market without proper regulations against practices like rug pulls, one thing was made clear: “Follow the Trump administration’s agenda and contribute to U.S. national interests.” This principle was firmly established, and the issuance of Trump meme coins symbolized it.

Ultimately, “coins serving U.S. national interests” are likely to work against every country except the United States. It appears to be a strategy to dominate the crypto market and absorb foreign capital.

This trend is also unfavorable for #Bitcoin and #Ethereum, which strive for neutrality and aim to become global public goods. Judging by Trump’s recent posts, it seems that Bitcoin and Ethereum are now being signaled as “neither friend nor foe.”